Wealthier and older investors are more likely to be affected by political advertising.
Political advertising joins death and taxes as unavoidables in the weeks and days leading up to a national election Tuesday.
Candidates and the parties that support the candidates would not spend the millions of dollars on political ads if they were not effective. But with the inundation of ads upon the voting public, there are questions about whether any decisions are made based on the information the ads present.
Millionaire Corner asked more than 1000 investors “Has your voting decision ever been affected by political advertising?” An overwhelming 77 percent said “No.”
Advertising experts say more than $8 billion will be spent nationally on political advertising for the 2014 midterm elections. That’s a huge leap from the estimated $6 billion spent in the Presidential election year of 2012. Mid-term elections include all House of Representatives races and approximately one-third of all U.S. Senate races, as well as state legislature campaigns.
Based on net worth, the wealthier investors were more likely to tell Millionaire Corner they had been affected by political advertising. While only 20 percent of investors with a net worth under $100,000 said that political advertising had reached them, almost 30 percent of investors with a net worth over $5 million said they had been affected by political ads.
Business owners, too, were more often affected than investors in other professions. Almost 38 percent of business owners said their vote had been affected by political advertising, while only 25 percent of corporate executives felt so.
Unmarried investors were less likely to vote differently because of political advertising (only 18 percent) and younger investors had similar responses (only 19 percent of investors under 40).
If the point of political advertising is to push an undecided voter in one direction, it is significant to note that only 20 percent of investors who identify themselves as independents say political ads affected their vote. Twenty-six percent of Democrats and 25 percent of Republicans said they made a voting decision based in part on political advertising
Kent McDill is a staff writer for Millionaire Corner. McDill spent 30 years as a sports writer, working for United Press International and the Daily Herald of Arlington Heights, Ill. From 1988-1999, he covered the Chicago Bulls for the Daily Herald, traveling with them every day through the nine-month season. He also covered the Bulls for UPI from 1985-88, and currently covers the team for www.nba.com. He has written two books on the Bulls, including the new title “100 Things Bulls Fans Should Know And Do Before They Die’, published by Triumph Books. In August 2013, his new book “100 Things Bears Fans Should Know And Do Before They Die” gets published.
In 2008, he resigned from the Herald and became a freelance writer. The Herald hired him to write business features and speeches for the Daily Herald Business Conferences and Awards presentations.
McDill also writes a monthly parenting column for the Herald’s Suburban Parent magazine.
McDill is the father of four children, and an active fan of soccer, Jimmy Buffett and all things Disney.